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Chase Freedom + Chase Checking = Even Better Rewards

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The Chase Freedom is one of the best no-fee credit cards, offering a full 5% cash back on rotating bonus categories and 1% everywhere else. But it gets even better: right now they’re offering a bonus for Chase checking account customers that could net you an impressive 11% rewards on a $1 purchase, and at least a 1.1% rewards rate elsewhere. All of this is in addition to a Get a $100 Bonus after spending $500 on purchases in your first 3 months from account opening. signup bonus. How? Chase is pushing its “relationship banking,” so if you have both a Chase checking account and the Chase Freedom, you’ll get:

Features of the Freedom:

5% cash back on rotating bonus categories, up to $1,500 spent per quarter

Unlimited 1% cash back elsewhere

Access to the Chase Ultimate Rewards Mall, which earns up to 20% cash back on select merchants

Update: An astute reader pointed out that the student checking account does not qualify. Sorry, college kids, no free lunch.

Obviously, if you can’t make the minimum balance requirements and would have to pay a monthly fee, it’s not worth it to get a checking account. If you have a Chase checking account, you’ll also get discounts or perks on CDs, auto loans, HELOCs, mortgages and investments.

Get the most out of your Chase Freedom

One last rewards-maximizer for the Freedom: the Ultimate Rewards discounts mall. If you go to the mall’s site and click through to any of the featured merchants’ websites, you’ll earn anywhere from 2% to 20% cash back on top of your usual earnings. To see where you can earn extra rewards, check out the NerdWallet discount tool’s summary of the Ultimate Rewards mall.

how does this compare to capital one’s cash credit card which gives 1.5% cb? is freedom still the one to use for regular 1% purchases?

http://www.facebook.com/thomas.nichols89 Thomas Nichols

I just want to point something out that is often left out in these banking and credit card reviews. Simplicity. We can easily determine the best account/credit card mix for certain users to generate the best interest/rewards. That’s only a part of the story. When comparing banks, simplicity (in my opinion) far outweighs the measly interest rate. As stated below, the interest in your checking account is far outweighed by your credit card rewards. Chase is the real winner with simplicity and usability. The best mobile app, the simplest way to pay family and friends. And always up to date account activity. Pair that with a great Credit card and the added benefits of a linked checking account and you have a real winner here.

http://www.facebook.com/MichaelMYLu Michael Ming-Yuan Lu

To Alice: I think if your purchase is in the 1% category, above $25 it’s better to use capital one’s 1.5% cb. Below, chase freedom.

Also, from what I received from Chase, the 10% bonus is “10% extra points”. Does this mean if my purchase is in the 5% category, I spend, say, $100, I get 500 pts, and I also get extra 10 pts? Or is it 500*10%=50 pts?

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